ARGA Investment Management LP Has $807,000 Position in Air Lease Co. (NYSE:AL)

ARGA Investment Management LP cut its holdings in Air Lease Co. (NYSE:AL - Free Report) by 61.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 17,826 shares of the transportation company's stock after selling 28,094 shares during the quarter. ARGA Investment Management LP's holdings in Air Lease were worth $807,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in AL. Eastern Bank bought a new position in shares of Air Lease in the 3rd quarter valued at approximately $27,000. Altshuler Shaham Ltd bought a new position in shares of Air Lease in the second quarter valued at approximately $29,000. GAMMA Investing LLC raised its position in shares of Air Lease by 108.1% in the second quarter. GAMMA Investing LLC now owns 1,201 shares of the transportation company's stock valued at $57,000 after purchasing an additional 624 shares during the period. Hilltop National Bank lifted its stake in shares of Air Lease by 33.8% in the second quarter. Hilltop National Bank now owns 1,775 shares of the transportation company's stock worth $84,000 after buying an additional 448 shares during the last quarter. Finally, Monetary Management Group Inc. acquired a new position in Air Lease in the 2nd quarter valued at $95,000. 94.59% of the stock is owned by institutional investors.

Air Lease Price Performance

Air Lease stock traded up $0.19 during mid-day trading on Friday, hitting $50.90. 256,941 shares of the company were exchanged, compared to its average volume of 686,279. The company has a market capitalization of $5.67 billion, a PE ratio of 11.59, a price-to-earnings-growth ratio of 1.57 and a beta of 1.59. The business has a fifty day moving average of $46.11 and a 200 day moving average of $46.19. Air Lease Co. has a 1-year low of $38.12 and a 1-year high of $52.31. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 2.63.

Air Lease Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 9th. Stockholders of record on Thursday, December 12th will be issued a $0.22 dividend. This is an increase from Air Lease's previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a dividend yield of 1.73%. The ex-dividend date is Thursday, December 12th. Air Lease's payout ratio is presently 19.13%.

Analysts Set New Price Targets

Several analysts recently weighed in on AL shares. JPMorgan Chase & Co. increased their target price on Air Lease from $52.00 to $56.00 and gave the company an "overweight" rating in a research note on Tuesday, November 12th. The Goldman Sachs Group reissued a "buy" rating and issued a $65.00 price objective on shares of Air Lease in a research report on Thursday, November 21st. One investment analyst has rated the stock with a hold rating and five have assigned a buy rating to the company's stock. Based on data from MarketBeat, Air Lease currently has a consensus rating of "Moderate Buy" and an average target price of $57.60.

About Air Lease

Air Lease Corporation, an aircraft leasing company, engages in the purchase and leasing of commercial jet aircraft to airlines worldwide. It sells aircraft from its fleet to third parties, including other leasing companies, financial services companies, airlines, and other investors. The company provides fleet management services to investors and owners of aircraft portfolios.